Goblins Flip Bored Apes in 24 Hours to Become the Top Collection

Investing NFT Non-fungible tokens Trading

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Sead Fadilpašić

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Sead Fadilpašić

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Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...

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October 23, 2023 08:59 EDT

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The grotesque creature-themed Goblin Town non-fungible tokens (NFT) project has flipped the popular NFT project Bored Ape Yacht Club (BAYC) to become the top collection in terms of sales volume over the past 24 hours.

The project has recorded nearly USD 8.5m in sales over the past day, up by just below 1,000% compared to the day before (by 11:15 UTC on Thursday), according to NFT data aggregator CryptoSlam.

On the other hand, Yuga Lab’s BAYC collection has brought in just over USD 2.8m in sales over the past 24 hours, approximately 3x less than Goblin Town. Currently, Goblin Town is on the top of the list in terms of sales volume, while BAYC is second on the list.

The new project’s floor has also increased sharply, reaching ETH 1.94 (USD 3,535), up by 244% over the past day. Moreover, the collection has lured 1,949 new buyers over the past day, up by 336% compared to the day prior.

The Goblin Town NFT project is a collection of 10,000 NFTs featuring all sorts of creatures, including trolls, dragons, wizards, and mosquitoes.

The project’s domain was registered merely 13 days ago, and it enabled investors to mint a free goblin. Moreover, the creators of the project are currently undoxxed, meaning no one knows who made these Goblins. On its website, the collection says “no utility, no roadmap, no Discord community.”

Notably, all Goblin Town NFTs are CC0 (creative commons zero), which means that no copyright is reserved for the entire NFT collection. Therefore, owners can choose to commercialize their NFTs in any way they want.

The rise of the Goblin Town NFT project has left many in crypto wondering, with some arguing that the collection has destroyed bear market expectations.

Global markets on the verge of collapse but people are spending $4,000 on this pic.twitter.com/V8gNRggT6p

— moon (@MoonOverlord) May 26, 2022

Meanwhile, despite the project’s spectacular rise, some in the crypto space have argued that it is “going to 0.” Eric Conner, a product researcher at blockchain startup Gnosis, wrote: “Fwiw anyone that buys that shit is an idiot, it’ll be worthless in a couple of weeks.” 

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